Rock-Paper-Silver o o o Preparing For The Next Market Collapse. – H.L. o o o Items from Mr. Econocobas: Fitch Downgrades Japan, Joins Moody’s in Warning on Fiscal Policy How this Debt-Addicted World Could Go the Way of the Mayans How a World Awash in Debt Devalues Your Money and Quality of Life Greeks Add Pressure on Tsipras to Compromise as Talks Resume
I note that under Chase’s new rules, cash cannot be used to make a payment on a loan account. So payments on debt have to come through a deposit account. The Internal Revenue Service regards all deposits to deposit accounts as income. You have to offer proof that a given deposit is a transfer of funds from income previously recorded or proceeds from a loan to have the deposit excluded from income. Undocumented, it is known as phantom income to small business owners, as they are forced to pay tax on deposits they cannot prove to be from non-income sources. …
Robert Kiyosaki: Interest rate madness and why cash is trash – what is going on?! o o o Social Credit Score: China rates its own citizens – including online behaviour. – H.L. o o o The “War On Cash” Migrates To Switzerland. – D.S. o o o How Much Does OPEC Really Earn?
Negative Interest Rates: It Is Like A Black Hole That Sucks In More And More Matter – Read: Capital – And Never Lets Go. This Financial Black Hole Story Will Also End With A Sudden Implosion, A Flash Of Light And A Big Bang, Just Like In Space… o o o What Will Happen to You When the Dollar Collapses?. – G.G o o o Deutsche Bank unit pleads guilty in U.S. Libor-rigging case. – G.G. o o o The Mystery Of China’s Gold Holdings Is Coming To An End
105 Trillion Reasons To Own Silver o o o Largest Bank In America Joins War On Cash. – B.B. o o o Twilight Zone Economies – Part 2 o o o Europe Entering Economic Neverland: Just When You Think Things Couldn’t Get Any Stranger, Signs Of Total Economic Insanity Continue To Trickle Out Of Europe.
Sheriff’s Office: Search continues for suspects in $175,000 robbery at coin shop, home. Of the several stores in town in this business, this is the one in the “nice” part of town owned by an older gentleman. They apparently don’t sell; they only buy. – DMC o o o 11 Signs That We Are Entering The Next Phase Of The Global Economic Crisis o o o Items from Mr. Econocobas: The Death of Cash – Interesting read… Video: Rick Santelli Echoes Contra Corner: ECB Has Destroyed Price Discovery In Euro Bonds – This is a little hard to follow, but …
War On Cash Intensifies: JPMorgan Chase To Prohibit The Storage Of Cash In Safety Deposit Boxes o o o Massive Derivatives melt-down going on; Fed engaging in enormous RRP Reverse Repo op o o o Items from Mr. Econocobas: You Thought the Taper Tantrum Was Bad? Wait Till Fed Lifts Rates – I still believe the Fed won’t raise rates, but if it did things could fall out of bed quickly. The Mystery Of China’s Gold Holdings Is Coming To An End A Third of U.S. Citizens Have Less Than $1,000 for Retirement
Saudi Arabia’s Oil-Price War Is With Stupid Money o o o A reset coming to world financial markets and if you’ve been paying attention it’s impossible to ignore the signs o o o Items from Mr. Econocobas: The Fed Still Wants Easy Money – Sometimes I just have to laugh my way through articles. This is one of this times. U.S. Pushing for Greek Solution in ‘Interest of Entire World’ – Don’t know how this is going to shake out, but this really is worth following. Inflation Goal May Be Too Low, Says Fed’s Rosengren – Really?? Video: Faber: Global …
Student debt now makes up nearly half of federally owned financial assets. The student debt bubble edges on with many more unable to pay their debt. o o o The Rise of the Paper Machines o o o Items from Mr. Econocobas: Grexit Fears Cause GDP Forecasts to Plummet Did Greece Just Launch Capital Controls: “Mandatory Cash Transfer” Decreed Due To “Extremely Urgent Need” – Student Debt Accounts For Nearly Half Of US Government “Assets” US Teeters on Brink of Economic Collapse Due to ‘Dollar Bubble’ – Ron Paul
The World Bank has been found to have violated its own policies, on protecting the rights of indigenous peoples. o o o Ford to spend $2.5 billion on plants in Mexico, angering UAW. – A.W. o o o Oil Busts Triggering Economic Seizures: “A Stream of Bankruptcy Attorneys Running Around”. – H.L. o o o 1 out of 4 college adjunct faculty collecting government assistance: Students in debt and professors barely getting by all the while tuition soars.
IRS Budget Cuts: Tax Administration v. Tax Handouts – PLC o o o Most new US jobs are in vulnerable industries — food, drink, office temp, transactional stuff like banking, etc. — and it’s hard to see where tomorrow’s debt service payments will come from. o o o Wal-Mart’s ex-CEO Mike Duke joins private equity firm Carlyle. – RBS o o o THE U.S. GOLD MARKET: Completely Insane o o o Meet the latest country with negative interest rates. – S.B.
One of our largest firms involved in oil extraction! Schlumberger slashes 11,000 jobs. – H.L. o o o Why even high earners are struggling to save. – G.G. o o o Items from Mr. Econocobas: “We’re All Frogs In Boiling Water” Santelli Says After Lacy Hunt Warns “This Is Far From Over” Is May 9 The Grexit Date? – Interesting Take Stocks Slammed – Dow Tumbles 350 Points Into Red Year-To-Date US Rig Count Drops For Record 19th Week In A Row
How many more working persons can you fit into a household until the entire family cannot afford anything? o o o Is Saudi Arabia Setting The World Up For Major Oil Price Spike? o o o Items from Mr. Econocobas: Japan Now Holds More U.S. Debt than China – The trend here is interesting… Bets Are Off on ‘Grexit’ as Default Fears Grow Fed’s Fischer Says Fed Can’t Be “On Hold For Ever”, Spooks Bonds & Bullion
Guess who holds even more US debt than China or Japan. – G.G. o o o Ron Paul on CNBC: ‘The whole system is built on fractional reserve banking, accumulation of debt, and malinvestment….Things are very, very fragile.’ o o o From our friends Frank and Fern: Negative Interest is Here o o o Items from Mr. Econocobas: Why Is WalMart Mysteriously Shuttering Stores Nationwide For “Plumbing Issues”? – Not sure there is really anything to read into or not, but it’s interesting none the less. Greece Running Out of Time as Officials Draw Contingency Plans Draghi’s Deranged Paranormal: European …
What Happened When Maine Forced Welfare Recipients To Work For Their Benefits? o o o The Six Too Big To Fail Banks In The U.S. Have 278 TRILLION Dollars Of Exposure To Derivatives. – B.B. o o o Items from Mr. Econocobas: Q1 GDP Expectations Are Crashing Video: David Morgan – Silver Is Historically Undervalued Video: James Turk Global Collapse with a Golden Backlash Fed Official Warns ‘Flash Crash’ Could Be Repeated